2. On January 1, 2019, Pacer Company paid $1,920,000 for 60,000 shares of L.rnon Co.'s voting common stock which represents a 35% investment. No allocation to goodwill or other specific account was made. Significant influence over Lennon was achieved by this acquisition. Lennon distributed a dividend of $3.00 per share during 2019 and reported net income of $820,000. What was the balance in the Investment in fennon Co. account found in the financial records of Pacer as of December 31,2019 ? A. $2,207,000. B. $2,702,000. C. $1,920,000. D. $2,127,000. E. $2,027,000